March 30, (THEWILL) — Nigeria is shifting from stabilisation to growth and moving aggressively to mobilise private capital as part of efforts to bridge an estimated $14 billion annual infrastructure financing gap, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said.
Edun disclosed on Monday in Lagos during the Islamic Development Bank (IsDB) Day, where he outlined Nigeria’s deepening partnership with the institution and stressed the urgency of closing the country’s infrastructure gap through strategic reforms.
“We are moving from stabilisation to growth, from relying on public financing to mobilising private capital, and from traditional borrowing to using innovative financing instruments”, he said, describing the government’s new economic direction as a deliberate shift aimed at unlocking long-term development.
He noted that bridging the $14 billion annual infrastructure financing gap is central to achieving sustainable economic expansion, particularly as Nigeria works toward a minimum seven per cent Gross Domestic Product (GDP) growth rate. According to him, such growth is necessary to reduce poverty and keep pace with Nigeria’s rapidly expanding population, which grows by about three percent annually.
Edun identified energy, transport, agriculture, and digital infrastructure as priority sectors requiring urgent investment, stressing their role in boosting productivity and enhancing global competitiveness.
“In a young country like Nigeria, digital infrastructure is essential for empowering the population and driving innovation”, he added.
The minister explained that the administration is strengthening macroeconomic stability to attract both domestic and foreign investors, adding that reforms are focused on creating a more predictable and investment-friendly environment. He disclosed plans to expand Sukuk financing, deepen domestic capital markets, and securitise public assets as part of efforts to de-risk investment flows.
“We are moving from stabilisation to growth, from relying on public financing to mobilising private capital, and from traditional borrowing to using innovative financing instruments”, he reiterated, underscoring the consistency of the government’s economic strategy.
Edun also announced that 2026 has been designated as Nigeria’s “year of social development”, with plans to integrate about 10 million Nigerians into the economy through skills development programmes, financing support, and job creation initiatives targeted at micro, small and medium enterprises (MSMEs).
Meanwhile, the Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama, warned that Nigeria’s infrastructure funding gap could be as high as $100 billion, stressing the need to fully activate the capital market as a central engine for national development, given the country’s population size and economic weight in Africa.
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